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DATE: May 26 2012
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Poker.co.uk - Poker News Archive

Friday 26th October 2007

Svenska Spel-s Increased Profit for Swedish Government

The state-owned monopoly Svenska Spel has seen a huge growth in online gaming, with profits leap 19 percent.

After the first nine months of 2007, Svenka Spel had reported that profits were up to 1.4 billion Swedish Krona ($215m), a result of increased demand for online gaming, including poker.

Svenska Spel owns 55% of the gaming market in Sweden, and has a portfolio of over 20 games. Poker is however a major contributing factor in their profits, with the number of active poker players in the nine month spell at 110,000. From those players, €31 million were raked from poker games owned by the company, which was a 140 percent increase on the figures in the same period of 2006.

The growth of Svenksa Spel’s figures comes against the Swedish government clamping down on illegal gambling in the country, with six people charged for organising an unlicensed tournament earlier this month.

Overall, a total of €1.7 billion was gambled by the Swedes through the state-owned firm. Allegations that most of it was on a raggy flop, top pair and no kicker have no concrete evidence, of course…

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Source: OnlineCasinoNews

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